Madeira Beach, FL Cost of Living

Madeira Beach cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.

A general summary of the cost of living index in Madeira Beach, FL is shown above. Compared to the state average of Florida the cost of living index in Madeira Beach, FL is 122, which is 23% higher than the average in Florida and compared to the national average it is 22% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Madeira Beach, FL goods and services come in at 2% lower than the average in Florida and are 3% lower than compared to the nationwide average.

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How would you rate the cost of living in Madeira Beach?Excellent. Goods, services and housing are all very affordable.Good. Most goods and services are affordable.Poor. Everything is more expensive than I'd like.Awful. You'll have to take out a loan to live here.View resultsWrite a review to give others more information about this area.Is the cost of living increasing or decreasing in Madeira Beach?Decreasing rapidly. Costs are dropping at a rapid rate.Decreasing steadily. Costs of goods and services are declining.Increasing steadily. Price are inreasing, but at a reasonable rate.Increasing rapidly. I can barely keep up with the increasing prices.View resultsWrite a review to give others more information about this area.

Did you know?

The cost of living in Madeira Beach is 23% higher than the Florida average.

The cost of living in Madeira Beach is 22% higher than the national average.

The cost of housing in Madeira Beach is 70% higher than the national average.

Compare Madeira Beach, FL Cost of living To Other Cities

Salary Calculator

I currently make 50,000This is how much you would need to earn in Price difference in compared to

Cost of living index

Goods & Services index

Groceries index

Health care index

Housing index

Transportation index

Utilities index

Using the salary calculator lets you compare the salary you earn in Madeira Beach, FL to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Madeira Beach, FL, you have to earn a higher income in order to still have the same standard of living. To operate the Madeira Beach, FL salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median Income

Per Year

Per Month

Max Budget (28% DTI)

Max Budget (36% DTI)

Owners

$78,036

$6,503

$1,821

$2,341

Renters

$30,259

$2,522

$706

$908

A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Madeira Beach, FL, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Madeira Beach, FL has a median income of about $78,036 for people who own homes. Based on that number, a person should spend a maximum of $1,821 on expenses related to housing. Renters have a slightly different median income, which is $30,259. Based on this average, renters should spend no more than $706 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Florida Sales Tax

State

General Sales Tax

With Max Surtax

Florida

6%

7.5%

Florida Income Tax

State

Income Tax (Low)

Income Tax (High)

Florida

0%

0%

When considering the overall cost of living expenses in Madeira Beach, FL, it's important to take into account the sales tax for Florida, as well as the rate for income tax in Florida. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Florida is 7.5%, and the sales tax in the state of Florida is 6%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Florida starts from 0% and goes up to 0%.

Goods & Services

Item

Madeira Beach

National avg.

Difference

Haircut

$13.87

$16.09

13.8%

Beauty Salon

$34.72

$37.33

7.0%

Toothpaste

$2.71

$2.45

10.6%

Shampoo

$1.01

$1.00

0.9%

Movie

$11.59

$10.28

12.7%

Bowling

$6.14

$4.93

24.5%

Groceries

Item

Madeira Beach

National avg.

Difference

Ground Beef

$4.22

$3.80

11.0%

Fried Chicken

$1.42

$1.40

1.4%

Milk

$2.51

$2.01

25.0%

Potatoes

$3.63

$3.01

20.5%

Pizza

$9.19

$9.89

7.0%

Beer

$9.42

$8.90

5.9%

Health Care

Item

Madeira Beach

National avg.

Difference

Optometrist

$88.81

$102.16

13.1%

Doctor

$110.98

$108.36

2.4%

Dentist

$92.29

$92.53

0.3%

Ibuprofen

$9.14

$9.28

1.5%

Lipitor

$394.89

$425.82

7.3%

Housing

Item

Madeira Beach

National avg.

Difference

Home Price

$376,300.00

$184,700.00

103.7%

Avg. Mortgage Payment

$827.55

$1,202.44

31.2%

Apartment Rent

$881.00

$949.00

7.2%

Transportation

Item

Madeira Beach

National avg.

Difference

Gasoline

$2.15

$2.24

4.0%

Tire Balancing

$58.96

$46.29

27.4%

Utilities

Item

Madeira Beach

National avg.

Difference

All Electricity

$145.49

$165.96

12.3%

Phone

$43.34

$28.68

51.1%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.